This Midwestern orthopedic group closed on a $28MM cash-out refinance where it will utilize the equity for a $7MM expansion of its existing medical office building to add on a surgery center. In doing so, the group minimized the buy-in for new partners and distributed over $8MM to the existing shareholders. CMAC Partners was able to leverage two very competitive options for the group, allowing the physicians to choose which ultimately supported their goals best.